Indonesian Political, Business & Finance News

Archive: 16 January 1997

45 articles found

5,000 brokers to be trained this year

5,000 brokers to be trained this year JAKARTA (JP): The Capital Market Society of Indonesia (CMS) will train 5,000 brokers this year as part of efforts to encourage local investor participation in the capital market, the society's executive director Joseph Luhukay said yesterday. "The 5,000 brokers will be trained mostly in selling mutual funds. It is part of our program to train around 50,000 brokers for the capital market during the next five years," said Joseph.

Indomobil's plant fit for Timor cars

Indomobil's plant fit for Timor cars JAKARTA (JP) The national carmaker PT Timor Putra Nasional's plan to assemble cars at Indomobil's plant in Tambun, West Java, is likely to proceed smoothly, several automotive executives said yesterday. Herman Z. Latief, vice president of PT Krama Yudha Tiga Berlian, said this would not pose technical problems because Indomobil's plant did not need major alterations to assemble the so-called national cars.

Drug smuggler arrested

Drug smuggler arrested JAKARTA (JP): Soekarno-Hatta International Airport Customs and Excise officers have arrested a South African man for smuggling 320 grams of morphine into Indonesia. The customs and excise office's chief, Nisfu Chasbullah, said his officers along with quarantine officers, arrested Lombane Cosbane, 31, on Jan. 8. "The morphine was packed in 25 capsules. The suspect swallowed 11 capsules and kept the remaining 14 capsules in his jeans," Nisfu said yesterday.

The universal turning point of conversion

The universal turning point of conversion As Indonesian Moslems observe the holy month of Ramadhan, Ignas Kleden looks at fasting from a sociological point of view. JAKARTA (JP): In sociological terms, the word "conversion" means avoiding socially unacceptable behavior. Conversion is important for two reasons. First, because it is universal among human beings as it helps them cope with error and fallibility. Second, it is an act of self-reflection, which only human beings are capable of.

Long-term implications or new budget bill

Long-term implications or new budget bill The new bill on non-tax revenues submitted to the House of Representatives is part of an effort to improve budgetary discipline. The bill, presented on Monday by Minister of Finance Mar'ie Muhammad, was welcomed by legislators. It could be coincidence that the bill was submitted following the public uproar regarding the transfer of government funds to a cabinet minister's personal bank account.

Customs brokers asked to register

Customs brokers asked to register JAKARTA (JP): Minister of Finance Mar'ie Muhammad has issued a ruling requiring customs brokers to register with the customs office and pay guarantees for their operations. The finance minister's decree No. 701/KMK.05/1996, dated Dec. 24, stipulates that all customs brokers must get their registration numbers from the customs office by April 1, when the 1995 customs law comes into force.

Flat nose deadly frustrating

Flat nose deadly frustrating JAKARTA (JP): A man has killed his lover in Jambi because she refused to undergo plastic surgery to make her nose more aquiline. Police said the 32-year-old man, who Antara have identified only as Alx, butchered Vivi, 28, Monday, because she had wasted the money he gave her for surgery. Jambi chief detective Capt. R. Umar Faruq, said the man's frustrations erupted when he discovered that Vivi, a prostitute, had gone out with another guy.

Placer Dome offers merger with Bre-X

Placer Dome offers merger with Bre-X JAKARTA (JP): Placer Dome Inc., the second biggest gold producer in North America, has offered to merge with Bre-X Minerals, another Canadian gold mining company, to expedite the development of gold reserves in Busang, East Kalimantan.

Astra to plans Rp 300 billion investment

Astra to plans Rp 300 billion investment JAKARTA (JP): PT Toyota Astra Motor (TAM), a subsidiary of the country's largest automaker PT Astra International, plans to invest Rp 300 billion to increase the local content of its new Kijang van to 60 percent from around 45 percent. TAM president Rudyanto Hardjanto said yesterday the additional investment would be used to build a forging plant and an engine factory.

Yellow policy criticized

Yellow policy criticized JAKARTA (JP): A high-ranking government official yesterday criticized the Central Java administration's controversial policy that orders the painting of objects in public places in Golkar's color of yellow. Director General for Social and Political Affairs Sutoyo N.K. expressed his regret at the scheme, which has roused a dispute pitting the Surakarta mayoralty against activists of the United Development Party (PPP) whose party color is green.

'Perumka to operate train on 3-layer transit system'

'Perumka to operate train on 3-layer transit system' JAKARTA (JP): The state railway company, Perumka will operate the train in the three layer transit system, Minister of Transportation Haryanto Dhanutirto said yesterday. "Based on the 1993 Train Law only Perumka has the right to operate the light rail transit on the Bintaro-Kota station route," Haryanto was quoted by Antara as saying.

UAE women to join parliament

UAE women to join parliament ABU DHABI (AFP): The United Arab Emirates, a conservative Moslem nation, yesterday dropped long-standing social barriers and said women could play a role in politics as members of its appointed parliament. "From our experience in the Federal National Council (FNC), we now feel that we really need the women to play their role in the parliamentary life.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 15, 1997: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 1,000 0 0 AHAP Insurance 2,675 0 0 Alter Abadi 1,175 25 4,687,000 Alumindo Light Metal 1,325 -50 2,408,000 Alumindo Perkasa 775 0 70,500 Andayani Megah 1,025 0 152,500 Aneka Kimia Raya 1,425 25 347,500 Anwar Sierad 2,250 0 0 Aqua Golden Mississippi 4,100 0 17,000 Argha Karya Prima Industry 3,400 0 0 Argo...

Govt delays decision on minimum wage

Govt delays decision on minimum wage JAKARTA (JP): The government will not announce increases in the minimum wage level until the end of January, Minister of Manpower Abdul Latief said yesterday. While not giving reasons for the delay, Latief said representatives of the government, workers' unions and employers were still deliberating on the size of increases. Last year's minimum wage hikes were announced at the beginning of January.

Fire in Tambora leaves 100 families homeless

Fire in Tambora leaves 100 families homeless JAKARTA (JP): A fire in Tambora, West Jakarta, Indonesia's most densely populated district, hit only eight houses but left more than 100 families homeless. The houses destroyed in Monday night's fire were all two-story homes with rented rooms. Yesterday children collected contributions from passers-by while residents got food from a public kitchen.

Village chief, citizen fight

Village chief, citizen fight BANGKALAN, East Java: A village chief and a citizen slashed each other with sickles over a dispute about traffic signs Tuesday, a press report said yesterday. Pangalongan village Chief Suli, 50, and Arbai, 50, were both critically injured, Antara reported. Both were engaged in a duel following a bitter argument after the village chief caught Arbai removing a traffic sign barring trucks from passing the road.

'PDI won't expect much from election'

'PDI won't expect much from election' JAKARTA (JP): Legal barriers have forced the Indonesian Democratic Party (PDI) to throw in the towel before contesting the May 29 general election, a member of the party said yesterday. Budi Hardjono, a supporter of the government-recognized Soerjadi-led PDI, complained yesterday the new election rules would hamper the party from making a full use of the period allotted for campaigning between April 29 to May 23.

'Jargon won't help the environment'

'Jargon won't help the environment' JAKARTA (JP): The environmental jargon churned out by bureaucrats and activists has no meaning to most ordinary people and is therefore unlikely to motivate them into action, Moslem scholar Abdurrahman Wahid said yesterday Words such as "Sustainable Development", "Agenda 21", "solid waste" and "liquid waste" were created for the convenience of non-governmental organizations (NGOs), bureaucrats and entrepreneurs and are comprehensible only to them, Abdurrahman...

Many areas still inundated

Many areas still inundated JAKARTA (JP): Many people evacuated from floods in Kramat Jati, East Jakarta, have not yet returned as 11 neighborhood units (RT) were still inundated yesterday. Subdistrict head Daeng Hubin Umar said he did not know how many residents had returned to their homes. Tuesday's floods forced 1,600 people from 450 Kramat Jati families to leave their homes. Daeng said water levels had been fluctuating since Tuesday afternoon. "From 4:00 a.m. to 8:00 a.m.

Police return damaged PDI building to state

Police return damaged PDI building to state JAKARTA (JP): Central Jakarta Police handed over to the state yesterday the Indonesian Democratic Party (PDI) headquarters which was seriously damaged in a violent clash between opposing party factions last July. The empty PDI headquarters -- with window panes shattered, broken furniture lying in the front courtyard and part of its roof ripped off -- was officially handed over by chief of the Central Jakarta Police investigation department Capt.

A war of colors

A war of colors Colors are loaded with emotion, or so psychologists and artists tell us. And whether or not we are aware of it, artists and decorators regularly use this emotional power to evoke certain emotions or to create or enhance the ambiance of a certain place. We are afraid, however, that there is nothing artistic about the controversy that broke out last week in the Central Java city of Surakarta (Solo) over what color public buildings and facilities should be.

Garuda's service

Garuda's service On Dec. 21, 1996, my wife and I boarded flight number GA740 bound for Manado. The flight departed only 20 minutes behind schedule, a miracle I thought. Thirty minutes into the flight an announcement was made that we were heading back to Jakarta airport for technical reasons. The landing was so heavy, four tires burst and four fire engines were on the edge of the runway to meet the plane. The plane seemed to take a long time to stop.

PJB books 64% rise in assets to Rp 8.2t

PJB books 64% rise in assets to Rp 8.2t JAKARTA (JP): PT Pembangkitan Listrik Jawa-Bali (PJB) I, a subsidiary of the state-owned electricity company PLN, reported a 64 percent increase last year in the value of its assets to Rp 8.2 trillion (US$3.4 billion), PJB I's president said yesterday.

Sociologist optimistic on national tragedies

Sociologist optimistic on national tragedies JAKARTA (JP): The rise and fall of Megawati Soekarnoputri, the press bans, the national car policy debate and dozens of other political events in Indonesia in recent years bode well for the growth of democracy, sociologist Arief Budiman said yesterday. While some of these events may have been tragic, the Harvard- trained scholar said that overall they represented "investments" for the nation as it strove for democracy.

Where to go in Bandung:

Where to go in Bandung: Music and Entertainment * Chedi Hotel: Jl. Rancabentang 56-58: Job (Piano), Monday to Wednesday, 5:30 p.m. to 8 p.m.; Irven (Guitar), Monday to Wednesday, 8:30 p.m. to 11 p.m.; Mixed Voices Accapela singer and Andi (Pianist), Thursday and Saturday, 8:30 p.m. to 11:30 p.m.; Andi (Piano), Friday and Sunday, 5:30 p.m. to 8 p.m.; Imelda (Piano), Friday, 8:30 p.m. to 11 p.m.; Juli (Piano), 5 p.m. to 10:30 p.m. * International Imperium Hotel: Jl. Dr. Rum No.

Property demand reached record level last year

Property demand reached record level last year JAKARTA (JP): The demand for all types of property, except industrial estates, in Greater Jakarta peaked last year, according to an international property consultancy firm. "Demand for property was very high in almost all sectors during 1996. But at the same time, it was unable to keep pace with the higher levels of new supply," Craig Williams, a senior technical advisor of PT Procon Indah/Jones Land Wootton (PI/JLW). said yesterday.

WB appoints Severino

WB appoints Severino JAKARTA (JP): The World Bank announced yesterday the appointment of Jean-Michael Severino as its regional vice president for East Asia, succeeding Russ Cheetham. Severino, a French citizen, joined the bank in April 1996 when he was appointed as a director in Country Department II of the Europe and Central Asia Regional Office. Mieko Nishimizu was promoted to South Asia regional director, succeeding D. Joseph Wood, the bank said in a statement.

Dayak culture under threat

Dayak culture under threat PALANGKA RAYA, Central Kalimantan: Dayak tribal leaders called on the provincial government yesterday to establish an institution to protect the rights of indigenous people. KMA M. Usop, chairman of the Dayak Consultative Body, told Antara the proposed institution was urgent. The institution, he said, was needed to ensure indigenous people were not neglected in the development process.

'Dissidents cause unrest'

'Dissidents cause unrest' JAKARTA (JP): Chairman of Supreme Advisory Agency Admiral (ret) Sudomo dismissed scientists' analyses that the recent outbursts of violence jolting the country were caused by social and economic disparities. Instead, he blamed the unrest on "dissidents" unhappy with the national development program and on poor political communication. Speaking to reporters here Tuesday, he said there would always be people manipulating the government's shortcomings.

Ujungpandang pilot project

Ujungpandang pilot project UJUNGPANDANG, South Sulawesi: Mayor Malik B. Masry has disclosed that the city has been chosen for a pilot project in regional autonomy at the provincial capital level. The project will begin in April, Masry said after meeting with legislative council members to discuss the plan, Antara reported yesterday.

Japan seeks bigger role in Asia

Japan seeks bigger role in Asia By Brian Williams TOKYO (Reuter): For a man with lots of problems at home, Japanese Prime Minister Ryutaro Hashimoto has ambitious plans for his country abroad. His just-concluded eight-day tour of Southeast Asia showed a prime minister eager to walk on the world stage and anxious for Japan to play more than a banker's role in the region.

Busang gold mines

Busang gold mines The rivalry among the Canadian mining company BRE-X Mineral Ltd. and its local partners PT Krueng Gesui and PT Sungai Atan Perdana has temporarily ended tragi-comically because all three have lost. It is Barrick Gold Cooperation, a giant company also from Canada, which has won the concession thanks to its huge capital and stronger relations. Without breaking sweat to explore the East Kalimantan jungle Barrick managed to obtain the gold mining deal.

Land prices keep going up

Land prices keep going up JAKARTA (JP): The price of land on Jl. Thamrin and Jl. Kebon Sirih in Central Jakarta reached a record Rp 12 million (US$5,106) per square meter this year, the highest in the city. This was an increase of Rp 2 million on 1996 prices, an official said yesterday. Head of the city revenue office Wahab Rachmatsjah said the projection was the result of an annual review made by his office to estimate income from property taxes in the area.

Most RI islands still unnamed

Most RI islands still unnamed JAKARTA (JP): Most of Indonesia's 17,500 islands do not have names. Now, did you know that? Government officials said yesterday Indonesia had yet to find names for 11,808 of its isles across the world's largest archipelago. The country is also having a headache finding proper names for numerous rivers, forests, mountains and hills. Some have the same names and it has yet to be decided what to do about it.

Where to go in Jakarta:

Where to go in Jakarta: Music * Hotel Aryaduta, Jl. Prapatan 44-48, Central Jakarta: - Ambiente Italian Restaurant: Los Morenitos Vocal Group, Monday, Thursday, Sunday, 7:15 p.m. to 11 p.m.; Los Paraguas Vocal Group, Tuesday, Wednesday, Friday, Saturday, 7:15 p.m. to 411 p.m. - Ambassador Lounge: Pianist Sudarmadi, Monday through Saturday, 7:30 a.m to 9:30 a.m.; Boece & Ayu, Monday and Tuesday, 8 p.m.

Consortium to build ethylene plant in W. Java

Consortium to build ethylene plant in W. Java JAKARTA (JP): A consortium of British Petroleum subsidiary BP Chemicals Ltd, Indonesia's PT Salim Chemicals Corporation and four Japanese companies will build a naphtha cracker complex to produce ethylene and propylene in Bojonegara, near Merak, West Java, BP Chemicals said yesterday. The four Japanese companies are Sumitomo Corp., Tomen Corp., Nichimen Corp. and Mitsui & Co. Ltd. BP Chemicals' director of chemicals development-Indonesia, James M.

Ardy beats Dong to confirm comeback

Ardy beats Dong to confirm comeback TOKYO (Agencies): Indonesia's three-time Japan Open champion Ardy Wiranata beat top seed Dong Jiong of China yesterday to prove he is back on top form after being sidelined with hepatitis for eight months. Ardy, the winner here in 1991, 1992 and 1994, breezed past Japan's Hiroyuki Yamaguchi 15-9, 15-4 earlier in the day and went on to win his second-round match against the world number two 18- 13, 15-6 in the US$170,000 tournament.

TV today

TV today TVRI 2:30 a.m Travel: My Country 2:35 TV Series: Family Matters 3:05 Children's Program: Dendang Ria 3:30 TV Series: 13 Wonder 4:05 Science Film: Here come the star 4:30 Sports: Baseball 4:55 Filler and Trailer 5:00 Regional News 5:25 News: My Country 5:30 Arabic Lessons 6:00 News: Lintasan Berita 6:05 Nusantara, The Beloved Country 6:15 Village Program 6:30 English News Service 7:00 Evening News 7:25 Filler and Trailer 7:30 Ramadhan Progrma: Celah-celah Ramadhan 8:00 News: Lintasan...

'Predation features strongly in our sociaty'

'Predation features strongly in our sociaty' The recent gang fights in Tanah Abang market have jolted many people to the reality that preman or gang members exist among us and are extorting money from people. Sociologist Hotman M. Siahaan discusses the issue with The Jakarta Post. Question: How do you explain "premanism"? Answer: The word preman itself needs further clarification because it has expanded beyond its original meaning.

Greater China, ASEAN to lead world growth

Greater China, ASEAN to lead world growth SINGAPORE (AFP): Asia will dominate world economic growth in 1997 with Greater China and Southeast Asia leading the way into the 21st century, Economist Intelligence Unit (EIU) analysts said yesterday. Despite an economic slowdown in some key economies, China, Taiwan, Hong Kong and the seven-member Association of Southeast Asian Nations (ASEAN) were forecast to collectively enjoy robust growth in the medium term. "I've got my money on both ...

Government firm on unregistered vocational schools

Government firm on unregistered vocational schools JAKARTA (JP): The Ministry of Education and Culture's Jakarta office repeated its warning yesterday to unregistered vocational schools to close if they could not meet minimum standards. The office's head, Kusnan Ismukanto, said there were at least 21 vocational schools in Jakarta which did not have their own buildings or qualified teachers as the government's minimum standards required. "Some of them do not even have any students.

Chase to arrange $2.5b in local syndicated loans

Chase to arrange $2.5b in local syndicated loans JAKARTA (JP): Chase Manhattan Bank plans to arrange about US$2.5 billion in syndicated loans for Indonesia in the first quarter of this year, its executives said yesterday. Senior country officer for Indonesia, Morgan T. McGrath, said these loans would go mostly to telecommunications, mining, oil and gas and chemical projects.

California to increase exports to RI

California to increase exports to RI JAKARTA (JP): Governor of California Pete Wilson was optimistic yesterday that exports from his state to Indonesia would continue to increase. Wilson, who arrived here Tuesday for a three-day visit, told reporters that California exported US$561.62 million worth of goods to Indonesia in 1995 and $538.95 million worth in the first three quarters of last year.

Mount Merapi rumble causes evacuation

Mount Merapi rumble causes evacuation JAKARTA (JP): Mount Merapi, Indonesia's most active volcano, continued to spew burning ash and lava yesterday, prompting authorities to begin evacuating residents and close off tourist attractions, officials said. Authorities have heightened the alert level for a possible major explosion. Residents living close to the 2,968-meter-high volcano were asked to be ready for evacuation, in case a major explosion was imminent.

Ramadhan time for Jakarta

Ramadhan time for Jakarta Thursday Maghrib 6:18 p.m. Friday Imsak 4:17 a.m. Subuh 4:27 a.m.